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BUSINESS ETHICS AND THE FUTURE OF CAPITALISM IN A SUSTAINABLE SOCIETY

Dr. Jacques CORY Website: Email: coryj@.il

COURSE OBJECTIVES AND DESCRIPTION

The objective of the course is to enhance the participants' capacity to handle the ethical dilemmas encountered in their professional career in the context of business, society and personal life. Businessmen are not often aware to the fact that they encounter an ethical dilemma. The course will therefore personify the dilemmas with empiric examples, provide conceptual frameworks to define more accurately the nature of ethical dilemmas, explore different alternatives by a method of group dynamics, and enrich the experience of ethical reasoning with a modern approach. The course will present pioneering principles and theories with practical vehicles that combine business and ethics that should overcome future challenges, as well as semi-documentary films on Ethics in the Financial World, Stock Exchange and M&A; on Transparency, Whistleblowers and the Media; and on Ethical Activism, Environment, Mega Corporations and Stakeholders. The participants will discuss cases on creative accounting, bribe, transparency, insider information, ethical and unethical conduct of companies, directors and executives and whistleblowers. All that in a framework of theoretical studies that will give the basics of philosophical, psychological, sociological and economic thought related to business ethics. The course examines also the future of capitalism in a sustainable society in the context of the Great Recession of 2007-2010, finding a pattern of the Economic Whirl starting in the eighties with damages of billions and incurring in 2008 damages of trillions. The course examines the solutions to the crisis of capitalism, adopted by the regulators and business, recommended by eminent professors, writers and tycoons, and advocated by Cory in his books, lectures and articles. The course comprises 13 meetings of 2 sessions each, 26 sessions in total.

COURSE METHODS

The instructor will employ a variety of pedagogical tools: analysis of books, cases, lectures, videos, role play, team work and group dynamics. Additional readings will be proposed as optional for those who are particularly interested in some of the issues discussed in class. The personal assignments are based on the required or optional readings and cases of the course package. Details on the personal assignments will be given in the first session of the course. The participants will also participate in role playing of the protagonists' ethical dilemmas in semi-documentary films, such as Wall Street, Erin Brockovich and The Insider. Details on the readings and personal assignments are specified in the following sessions. A final report will be presented on the last session.

GRADING

For this course your final grade will be based on:

1. Personal Assignments on the theoretical and empiric studies and role playing - 50%. These assignments of 10 minutes each will measure the ability of the participants to understand ethical dilemmas and present them in a convincing manner to the class.

2. Final Report of 5 pages on the subject: An ethical dilemma that I have encountered in my professional career - 50%. This report will be presented on the final session of the course.

ABOUT JACQUES CORY AND HIS BOOKS

Dr. Jacques Cory is a businessman, an academic and writer, who worked for twenty years in executive positions in finance and sales in the high tech industry, most of them at Elbit (VP Finance and Sales, managing IPOs on Wall Street & Tel Aviv, mergers & acquisitions, and international sales). In the nineties Cory managed M&A, technology transfer and turnaround projects in Europe, Israel & the US.

In 2001 Cory lectured and published books anticipating the Corporate Scandals and since 2004 he gives courses at the University of Haifa (elected Best Lecturer), in 2006 at INSEAD, since 2009 at the Technion in Israel - Executive MBA, since 2010 at the University of Tel Aviv - International MBA, anticipating the Recession in lectures and books published in Israel in July 2008 and in the US in 2009. "The book has anticipated the economic events and history reveals Cory's intellectual sagacity. The book is drawing well the landscape in which those successive crises did occur and makes clear how each time we find the same causes that additional regulatory efforts did not fix. The book is the wisdom of a man of experience and of conviction who has translated his successful business career into a pedagogical package for the benefit of the young generation." Henri-Claude de Bettignies, Professor at INSEAD (France and Singapore), Stanford (US) and CEIBS (China), February 2009

"I just read your course materials and it sounds like a terrific class", November 2009, Andrew Ross Sorkin, journalist in The New York Times, author of the book on the Recession "Too Big to Fail". Alexandra Reed Lajoux, a prominent business writer and CKO at the National Association of Corporate Directors, comments (8/2008) on the adaptation of the book in English: "Your book has a wise premise, brilliantly fulfilled. It's a potential best seller. Your book will be a classic."

REQUIRED BIBLIOGRAPHY

Cory Jacques, Business Ethics for a Sustainable Society: Conquering the Corporate Frankenstein, The Edwin Mellen Press, 2009

Cory Jacques, Website: businessethics.co.il

Friedman Thomas L., Hot, Flat, and Crowded, Why We Need a Green Revolution and How it Can Renew America, Farrar, Straus and Giroux, 2008.

Friedman Thomas L., The World is Flat - A Brief History of the Twenty-First Century, First Updated and Expanded Edition, Farrar, Straus and Giroux, 2006

Kahneman Daniel and co-authors, Choices, Values, and Frames, Cambridge University Press, 2000,

Kansas Dave, The Wall Street Journal Guide to the End of Wall Street as We Know It: What You Need to Know About the Greatest Financial Crisis of Our Time and How to Survive It, Collins, 2009

Klein Naomi, The Shock Doctrine: The Rise of Disaster Capitalism, Picador, 2008

Sorkin Andrew Ross, Too Big to Fail: The Inside Story of How Wall Street and Washington Fought to Save the Financial System – and Themselves, Viking Adult, 2009

Stiglitz Joseph E., Freefall: America, Free Markets, and the Sinking of the World Economy, W. W. Norton & Co., 2010

Stiglitz Joseph E., Making Globalization Work, W. W. Norton & Company, 2007

Taleb Nassim Nicholas, The Black Swan: The Impact of the Highly Improbable, Random House, 2007

Yunus Muhammad, Creating a World Without Poverty: Social Business and the Future of Capitalism, PublicAffairs, 2009

REQUIRED WORKS ON DVD

The Ascent of Money: Boom and Bust, 2008, 120 min., Director Adrian Pennink, with Niall Ferguson

Capitalism: A Love Story, 2009, 120 min., directed by Michael Moore

The Crooked E, the Unshredded Truth about Enron, TV 2003, 100 min., Director Penelope Spheeris, with Christian Kane and Brian Dennehy, based on the book by Brian Cruver.

Erin Brockovich, 2000, 132 mi., Director Steven Soderbergh, with Julia Roberts, A. Finney

The Insider, 1999, 157 min., Director Michael Mann, with Al Pacino and Russel Crowe

It's a Wonderful Life, 1946, 130 min., Director Frank Capra, with James Stewart, Donna Reed

Other People's Money, 1991, 103 min., Director Norman Jewison, based on Jerry Sterner's play, with Danny DeVito, Gregory Peck, Penelope Ann Miller, Piper Laurie

Rogue Trader 1999, 101 min., based on Nick Leeson’s autobiography about the disastrous collapse of UK’s Barings Bank, Director James Dearden, with Ewan McGregor, Anna Friel

The Take, 2004, 87 min., documentary directed by Avi Lewis, written by Naomi Klein, on Argentina

Wall Street, 1987, 120 min., Director Oliver Stone, with Michael Douglas, Martin Sheen

SYLLABUS OF THE COURSE

Meeting 1

1. Introduction: Ethical Dilemmas - The Practical Aspects of Business Ethics

Definition of Ethics, ethics in business, individual and corporate ethical dilemmas. The dilemmas of choosing between right and right. Objectives of the course, structure, content, evaluation. 12 outstanding principles and conditions that are the prerequisites for an ethical and profitable company

Required Reading: Cory Jacques, Business Ethics for a Sustainable Society: Conquering the Corporate Frankenstein, The Edwin Mellen Press, 2009, pp. 1-16.

Assignment: 1.Summary of Required Reading.

2. Transparency Case

The CFO of a high tech company planning an IPO reports to his Board of Directors of an unexpected decrease in the profitability's forecast. He wants to disclose this material fact in the due diligence, but he is advised by his bosses not to do so. Reactions of the investment bank and the CEO.

Required Reading: Cory Jacques, Business Ethics for a Sustainable Society: Conquering the Corporate Frankenstein, The Edwin Mellen Press, 2009 pp. 362-370.

Assignments: 1. Summary of the case. Analysis of the business and ethical dilemmas of: 2. James the CFO, 3. Taylor the CEO, 4. Morton the Chairman, 5. Theresa - James' wife.

Film: Documentaries on Bernie Madoff's Ponzi scheme, the most flagrant scandal of the Recession.

BBC – The Madoff Hustle, 2009, 51 min. - extracts

Ripped Off: Madoff and the Scamming of America, 2009, 94 min. – extracts

Frontline: The Madoff Affair (2009), 2009, 60 min. - extracts

Meeting 2

3. The Great Recession of 2007-2010

The pattern of the Economic Whirl starting in the eighties with damages of billions, increasing in 2008 to damages of trillions. A thorough analysis of the Recession, its causes and an overview on its key protagonists - corporations and executives. Solutions to the Recession, TARP, ethics.

Required Reading: Cory Jacques, Business Ethics for a Sustainable Society: Conquering the Corporate Frankenstein, The Edwin Mellen Press, 2009 pp. 17-51.

Recommended Reading: Kansas Dave, The Wall Street Journal Guide to the End of Wall Street as We Know It: What You Need to Know About the Greatest Financial Crisis of Our Time and How to Survive It, Collins Business, 2009, pp. 1-126

Sorkin Andrew Ross, Too Big to Fail: The Inside Story of How Wall Street and Washington Fought to Save the Financial System – and Themselves, Viking Adult, 2009, pp. 340-372, 484-539

Assignments: 1. The Economic Whirl, the crises of junk bonds, , corporate scandals. 2. The Subprime crisis. 3. The collapse of Bear Stearns, Lehman Brothers and other banks. 4. The collapse of AIG. 5. TARP and other solutions, ethical solutions.

Film: The Ascent of Money: Boom and Bust, 2008, 120 min., Director Adrian Pennink, with Niall Ferguson - extracts

4. Stock Exchange, Mergers and Leadership – the Film Wall Street

Wall Street, 1987, 120 min., Director Oliver Stone, with Michael Douglas, Martin Sheen.

The description of the intrigues, corruption, leadership, mergers and integrity dilemmas on Wall Street, greed versus ethics, what is the price of integrity, insider information, Based on the junk-bond and insider information scandals of the eighties, illustrating the glorification of greed by tycoons.

Required Reading: Cory Jacques, Business Ethics for a Sustainable Society: Conquering the Corporate Frankenstein, The Edwin Mellen Press, 2009, pp. 242-246.

Assignments: 1. Summary of the film. Analysis of the business and ethical dilemmas of: 2. Gordon Gekko, 3. Bud Fox, 4. Carl Fox, 5. Larry Wildman. Only those who prepare the assignments have to watch the film before the meeting. Extracts of the film will be shown during the meeting.

Meeting 3

5. Sustainability, Corporate Social Responsibility (CSR) & Activism

Business Ethics in the context of sustainability, social responsibility and activism, integrates social, human, environmental and business goals. Sustainability configures that society, its members and its economies are able to meet their needs and express their greatest potential in the present and in a very long term. CSR is a concept that suggests that commercial corporations have a duty of care to all of their stakeholders in all aspects of their business operations. Transparency International.

Required Reading: Cory Jacques, Business Ethics for a Sustainable Society: Conquering the Corporate Frankenstein, The Edwin Mellen Press, 2009, pp. 454-481.

Assignments: 1. Corporate Social Responsibility and Ethical Activism. 2. Sustainability and Ecology.

Naomi Klein, the Fiercest Critic of Unfettered Capitalism and Globalization

Klein challenges the victory of Milton Friedman's free-market economics, and shows how neo liberals harnessed terrible shocks and violence to implement their radical policies. Klein provides a rich description of the political machinations required to force unsocial economic policies with a heavy toll on the world economy, in the third, second and now the first world as well, and most of all – the US.

Required Reading - Klein Naomi, The Shock Doctrine: The Rise of Disaster Capitalism, Picador, 2008, pp. 3-25, 560-589.

Cory Jacques, Business Ethics for a Sustainable Society: Conquering the Corporate Frankenstein, The Edwin Mellen Press, 2009, pp. 576-586

Wikipedia and on the Internet: Milton Friedman, Neoliberalism, Thatcherism, Reaganomics.

Assignments: 1. Summary of pp. 3-25 in Klein's book. 2. Summary of pp. 560-589 in Klein's book. 3. Milton Friedman, Neoliberalism, Thatcherism, Reaganomics. 4. Ethical aspects of globalization.

6. Ethical Activism, Sustainability, Corporate Social Responsibility – the Film Erin Brockovich

Erin Brockovich, 2000, 132 min., Director Steven Soderbergh, with Julia Roberts, Albert Finney. Based on the true story of Erin Brockovich, who succeeds through ethical activism to compel a multibillion California company to pay huge amounts of compensations for polluting a town's water. Legal and ethical considerations, class actions, CSR – window dressing or compassion to the victims. Required Reading: Cory Jacques, Business Ethics for a Sustainable Society: Conquering the Corporate Frankenstein, The Edwin Mellen Press, 2009, pp. 509-511.

Assignments: 1. Summary of the film. Analysis of the business and ethical dilemmas of: 2. Erin Brockovich, 3. Ed Masri, 4. Dona Jensen, 5. Theresa Dallavale. Those who prepare the assignments have to watch the film before the meeting. Extracts of the film will be shown during the meeting.

Meeting 4

7. Business Ethics - The Warren Buffett and Berkshire Hathaway Model

Not all financial tycoons are Dick Fuld, Michael Milken or Bernie Madoff. Warren Buffett is an excellent example of a tycoon, controlling Berkshire Hathaway with integrity, taking into consideration the interests of the stakeholders, with a humane approach to business, while still becoming a billionaire. Recently, he decided to donate most of his fortune to the community.

Required Reading: Cory Jacques, Business Ethics for a Sustainable Society: Conquering the Corporate Frankenstein, The Edwin Mellen Press, 2009, pp. 556-561

Assignment: 1. Warren Buffet – the man and the legend.

Bribe Case – Ethics in Government Tenders: A large high-tech company competes in a $300M tender, although it has almost no expertise in this field. The company bribes a government official, but is sued by the mediator who didn't receive his share of the bribe.

Required Reading: Cory Jacques, Business Ethics for a Sustainable Society: Conquering the Corporate Frankenstein, The Edwin Mellen Press, 2009, pp. 309-318.

Assignments: 1. Summary of the case. Analysis of the business and ethical dilemmas of: 2. Maurice the CEO of the telecommunication company, 3. Norbert the CEO of Shannont, 4. Patrick the CFO of Shannont, 5. Simon the District Court Judge.

8. Transparency, Ethics and the Media – The Film The Insider

The Insider, 1999, 157 min., Director Michael Mann, with Al Pacino and Russel Crowe.

Based on the true story of an attempt to silence on TV the disclosure by a whistleblower scientist, Dr. Jeffrey Wigand, that tobacco companies introduce addictive ingredients in cigarettes. Lowell Bergman, the producer of 60 minutes, is called by CBS executives: fanatic, anarchist, and he asks them: "Are you journalists or businessmen?".

Required Reading: Cory Jacques, Business Ethics for a Sustainable Society: Conquering the Corporate Frankenstein, The Edwin Mellen Press, 2009, pp. 435-437.

Assignments: 1. Summary of the film. Analysis of the business and ethical dilemmas of: 2. Dr. Jeffrey Wigand, 3. Mike Wallace, 4. Lowell Bergman, 5. Owners of CBS. Those who prepare the assignments have to watch the film before the meeting. Extracts of the film will be shown during the meeting.

Meeting 5

9. Inefficient Existing Panaceas and the Importance of Whistleblowers

Monks' seven panaceas that are supposed to safeguard the corporate accountability are very often inefficient: the CEO, regulation, independent directors, independent experts, boards of directors, the free press and external constraints. The dilemma of the whistleblowers who have the courage to denounce overtly the crimes of companies against the stakeholders and suffer the consequences.

Required Reading: Cory Jacques, Business Ethics for a Sustainable Society: Conquering the Corporate Frankenstein, The Edwin Mellen Press, 2009, pp. 124-130, 200-202.

Assignment: 1. Summary of pp. 124-130 and 200-202.

Joseph Stiglitz, the Prophet of the Third Way Between Neoliberals and Socialists

Nobel Prize winning Stiglitz explains in an academic, clear and concise language how the world economy works, and offers an agenda of inventive solutions to our most pressing economic, social, and environmental challenges, with a moral sensitivity required to ensure a just and sustainable world. Stiglitz suggests ways to make globalization and world economy work, in an Aristotelian Third Way.

Required Reading: Stiglitz Joseph E., Making Globalization Work, W. W. Norton & Company, 2007, pp. 187-210.

Recommended Reading: Cory Jacques, Business Ethics for a Sustainable Society: Conquering the Corporate Frankenstein, The Edwin Mellen Press, 2009, pp. 105-112.

Stiglitz Joseph E., Freefall: America, Free Markets, and the Sinking of the World Economy, W. W. Norton & Co., 2010, pp. 184-209 and 275-297

Assignments: 1. Multinational Companies. 2. Market Failures. 3. Limiting the Power of Corporations. 4. Improving Corporate Governance.

10. The Corporate Scandals of 2001- 2003: The Enron Case, the Film "The Crooked E"

The Crooked E, the Unshredded Truth about Enron, TV 2003, 100 min., Director Penelope Spheeris, with Christian Kane and Brian Dennehy, based on the book by Brian Cruver

The Enron scandal on the Internet, press, films, books and research. An analysis of the largest bankruptcy ever (until then) in December 2001, with fraud, use of insider information, lack of transparency and integrity of the executives. The Sarbanes-Oxley Act enacted after Enron.

Required Reading: Cory Jacques, Business Ethics for a Sustainable Society: Conquering the Corporate Frankenstein, The Edwin Mellen Press, 2009, pp. 420-424.

Assignments: 1. Summary of the film. Analysis of the business and ethical dilemmas of: 2. Ken Lay, 3. Jeff Skilling, 4. Brian Cruver, 5. Mr. Blue. Those who prepare the assignments have to watch the film before the meeting. Extracts of the film will be shown during the meeting.

Meeting 6

11. Business Ethics in Philosophy and Religion

Business Ethics in philosophy – ethics, morals, deontology – duty. Aristotle and moderation, trust and friendship, Machiavelli – ethics is unpractical, brutal bosses and management cruelty, Adam Smith and the invisible hand theory, Utilitarianism, the Golden Rule - 'do to others what you would like them to do to you', the Absolute Imperative of Kant - for a law to be moral it has to be universal.

Business Ethics in Judaism: the prophet Amos, the Bible, the Talmud, the Kabbalah, the Aggadah, 'the just suffers while the unjust prospers', 'the longest way is the one who goes from the heart to the pocket', fraud, love your neighbor as yourself. Business Ethics in Christianity: Jesus, the New Testament, Protestant ethical precepts, religious education.

Required Reading: Cory Jacques, Business Ethics for a Sustainable Society: Conquering the Corporate Frankenstein, The Edwin Mellen Press, 2009, pp. 52-75, and 86-105.

Assignment: 1. Business Ethics in Philosophy. 2. Business Ethics in Religion.

Independent Directors Case: An independent director in a bank's mutual fund discovers that the shares' prices in one of its investments have collapsed due to a manipulation of the prices. He wants to sue the company, but it is one of the best clients of the bank. Can he be truly independent?

Required Reading: Cory Jacques, Business Ethics for a Sustainable Society: Conquering the Corporate Frankenstein, The Edwin Mellen Press, 2009, pp. 233-241.

Assignments: 1. Summary of the case. Analysis of the business and ethical dilemmas of: 2. Professor Smith, the independent director, 3. Jonathan, CEO of Ordat's Bank Trust Fund, 4. Troy, CFO of Tovlin, subsidiary of Tovdor, 5. Horacio, a minority shareholder of Tovlin.

12. Globalization – The World is Flat by Thomas Friedman

Globalization in the 21st century, what it means to countries such as the US, India and China, to companies – multinationals and startups, to stakeholders – individuals and communities, how governments and societies can and must adapt. The context of the crooked/not flat global economy.

Required Reading: Friedman Thomas L., The World is Flat - A Brief History of the Twenty-First Century, First Updated and Expanded Edition, Farrar, Straus and Giroux, 2006, pp. 50-200

Assignments: 1. Flatteners 1-2, 2. Flatteners 3-4, 3. Flatteners 5-6, 4. Flatteners 7-8, 5. Flatteners 9-10.

Film: Charlie Rose with Thomas L. Friedman (August 31, 2005), 60 min., documentary. An interview of Thomas L. Friedman, columnist for the New York Times and author of "The World is Flat".

Meeting 7

13. New Ethical Perspectives

New ethical perspectives designed to prevent recessions, fraud and ultimately the collapse of the world's economy: Ethical Strategic Planning – assimilation of ethical codes, integrity screening of stakeholders, integrity tests. Case studies of Tylenol, Ben & Jerry's, Ford Pinto.

Required Reading: Cory Jacques, Business Ethics for a Sustainable Society: Conquering the Corporate Frankenstein, The Edwin Mellen Press, 2009, pp. 273-289, 79-80, 72-75.

Assignment: 1. Summary of the Reading.

Whistleblower Case: The program manager has to meet a very tight schedule, he falsifies results and gets a bonus. The VP QA discovers it and blows the whistle although the CEO backs the program manager. Should the VP QA tell the customer, where is his allegiance?

Required Reading: Cory Jacques, Business Ethics for a Sustainable Society: Conquering the Corporate Frankenstein, The Edwin Mellen Press, 2009, pp. 149-157.

Assignments: 1. Summary of the case. Analysis of the business and ethical dilemmas of: 2. Paul, VP Quality of Fire Control, 3. Peter, CEO of Fire Control, 4. Carl, Program Manager of Fire Control, 5. David, VP Finance of Fire Control.

14. Sustainability – a Precondition of Recovery for the Ailing Economy after Economic Whirl

The dilemmas of global warming with Al Gore's lifelong commitment to reversing the effects of global climate change.  A rallying cry to protect the earth, as a sustainable solution for the economy. Thomas Friedman's book "Hot, Flat, and Crowded" devises efficient methods to meet the challenges of ecology, as we are in the wrong track and need a course correction in modern capitalism.

Required Reading: Friedman Thomas L., Hot, Flat, and Crowded, Why We Need a Green Revolution and How it Can Renew America, Farrar, Straus and Giroux, 2008 – pp. 26-49 and 267-296

Wikipedia and Internet websites on Sustainability

Assignments: 1. Chapter 2 in Friedman's book. 2. Chapter 12 in Friedman's book. 3. China and India and Sustainability. 4. Your country/region/city and Sustainability.

Film: An Inconvenient Truth, 2006, 96 min., Director Davis Guggenheim, with Al Gore – extracts

Meeting 8

15. Psychological and Social Perspectives of Business Ethics

Psychology, society and trust have a predominant role in the business world, while the erosion of trust costs exorbitant amounts to the modern economy. Trust has its national nuances. Japan and Germany are societies with a very high level of trust and social orientation; while France and Italy are societies which are more individualistic and mistrusting, especially toward the authorities.

Required Reading: Cory Jacques, Business Ethics for a Sustainable Society: Conquering the Corporate Frankenstein, The Edwin Mellen Press, 2009, pp. 348-361.

Assignment: 1. Summary of the reading.

Mergers & Acquisitions Case: Integrity of a young executive in a holding company conducting a due diligence on an investment in a new start-up. Although his boss is the start-up's founder's father he is supposed to give an unbiased opinion, or not?

Required Reading: Cory Jacques, Business Ethics for a Sustainable Society: Conquering the Corporate Frankenstein, The Edwin Mellen Press, 2009, pp. 290-298.

Assignments: 1. Summary of the case. Analysis of the business and ethical dilemmas of: 2. Ron, CEO of Torsaf, 3. Richard, VP of Torsaf, 4. Albert, CEO of Memenco, 5. Charles, minority shareholder of Tordot.

16. Corporate Social Responsibility, Muhammad Yunus and Grameen Bank Models, Social Business and the Future of Capitalism, Grameen Danone, a Humane Form of Capitalism

Corporate Social Responsibility precepts are that the values contribute to profits not less than performance. Muhammad Yunus innovated strategies for lending microloans with Grameen Bank to the poor, helping millions to live better lives, while being solidly profitable with 99% repayment rate.

Required Reading: Yunus Muhammad, Creating a World Without Poverty: Social Business and the Future of Capitalism, PublicAffairs, 2009, pp. 43-101 and 129-162

Assignments: 1. Summary of pp. 43-75. 2. Summary of pp. 77-101. 3. Summary of pp. 129-147. 4. Summary of pp. 149-162.

Film: Charlie Rose with Muhammad Yunus (June 4, 2004), 2006, 57 min. – extracts

Meeting 9

17. The Predominance of Ethics and Values for a CEO

The most important feature of a businessman has to be his moral integrity, especially in fiduciary positions such as CEOs, vice presidents, or investment bankers and analysts. In most cases, if the CEO is ethical the company will be ethical and if he is unethical the company will wrong its stakeholders.

Required Reading: Cory Jacques, Business Ethics for a Sustainable Society: Conquering the Corporate Frankenstein, The Edwin Mellen Press, 2009, pp. 113-124.

Assignment: 1. Summary of the reading.

Organizational Behavior Case: The CEO decides to reward his CFO for conducting an IPO by sending him with his wife to a pleasure trip in Italy. By the way, the CEO asks the CFO to report as business expenses his $60K private expenses. When the CFO refuses to do so he is fired.

Required Reading: Cory Jacques, Business Ethics for a Sustainable Society: Conquering the Corporate Frankenstein, The Edwin Mellen Press, 2009, pp. 131-139.

Assignments: 1. Summary of the case. Analysis of the business and ethical dilemmas of: 2. Joseph, Controller of Marignan, 3. Harry, CEO of Marignan, 4. Fanny, VP Human Resources of Marignan, 5. Suzan, wife of Joseph.

18. Hostile Takeovers and Ethical Management: The film "Other People's Money"

Other People's Money, 1991, 103 min., Director Norman Jewison, based on Jerry Sterner's play, with Danny DeVito, Gregory Peck, Penelope Ann Miller, Piper Laurie

Larry Garfield is a serial liquidator of companies acquiring undervalued companies, called by him - "sleeping beauties", tearing them apart to the detriment of the stakeholders and owners, as the valuation of the parts is higher than the whole. Andrew Jorgenson, an old-school manager-owner, believes that companies should serve mainly their stakeholders but loses his company to Garfield.

Required Reading: Cory Jacques, Business Ethics for a Sustainable Society: Conquering the Corporate Frankenstein, The Edwin Mellen Press, 2009, pp. 253-256.

Assignments: 1. Summary of the film. Analysis of the business and ethical dilemmas of: 2. Larry Garfield, 3. Andrew Jorgenson, 4. The shareholders of the company, 5. The workers of the company. Those who prepare the assignments have to watch the film before the meeting. Extracts of the film will be shown during the meeting.

Meeting 10

19. International Aspects of Business Ethics

One of the criteria for the survival of a national or global society is that it needs to have a common morality for all society's members. Ethics in international business is influenced by different cultures, moral customs, political regimes, development, financial and economic situation, but is also universal as stated in The Universal Declaration of Human Rights.

Required Reading: Cory Jacques, Business Ethics for a Sustainable Society: Conquering the Corporate Frankenstein, The Edwin Mellen Press, 2009, pp. 562-576.

Assignment: 1. Summary of the reading.

Cultural, Ethical and Mentality Gaps in International Business Case: The importance of understanding cultural, mentality, religious, or social gaps, during negotiations on M&A. A local company wants to buy a French company but encounters suspicion and prejudices from the French. The gaps are overcome through the interference of a mediator familiar with both mentalities.

Required Reading: Cory Jacques, Business Ethics for a Sustainable Society: Conquering the Corporate Frankenstein, The Edwin Mellen Press, 2009, pp. 610-622.

Assignments: 1. Summary of the case. Analysis of the business and ethical dilemmas of: 2. Richard President of Scales, 3. Philippe President of Electronique France, 4. Louis the son of Philippe, 5. Emile manager of the M&A program.

20. Labor Rights in the Global Context, the Film "The Take" on Argentina

The Take, 2004, 87 min., documentary directed by Avi Lewis, written by Naomi Klein, on Argentina

The film "The Take", based on Naomi Klein's screenplay, describes the struggle of workers in Argentina against unemployment and bankruptcy of their factories, due to the collapse of the economy, IMF involvement, and corruption. Cooperative alternatives do work.

Required Reading: Cory Jacques, Business Ethics for a Sustainable Society: Conquering the Corporate Frankenstein, The Edwin Mellen Press, 2009, pp. 651-657.

Assignments: 1. Summary of the film. Analysis of the business and ethical dilemmas of: 2. IMF involvement in Argentina, 3. The Argentinian authorities. 4. The owner of the factory Forja San Martin, 5. The workers of the factory Forja San Martin. Those who prepare the assignments have to watch the film before the meeting. Extracts of the film will be shown during the meeting.

Meeting 11

21. Ethics in Banking and towards Minority Shareholders

The world economy is more and more concentrated in the hands of a small number of huge corporations and banks, which control the economy, without being adequately controlled by the governments and the citizens, and least of all by the shareholders. The 36 laws of wrongdoing to minority shareholders in unethical companies.

Required Reading: Cory Jacques, Business Ethics for a Sustainable Society: Conquering the Corporate Frankenstein, The Edwin Mellen Press, 2009, pp. 202-213.

Assignment – 1. Summary of the reading.

Ethics in the Stock Exchange and Banking Case: The CEO of a bank's fund gets an insider information that the shares' prices of a subsidiary of the bank is about to collapse. Should he use this information to the benefit of the fund's investors in spite of the "Chinese Wall"?

Required Reading: Cory Jacques, Business Ethics for a Sustainable Society: Conquering the Corporate Frankenstein, The Edwin Mellen Press, 2009, pp. 224-232.

Assignments: 1. Summary of the case. Analysis of the business and ethical dilemmas of: 2. Bernard, CEO of the Bank's Trust Fund, 3. Craig, CEO of Fabrizzio's holding company, 4. Don, a minority shareholder of Fabrizzio who committed suicide, 5. Mario, a minority shareholder of Fabrizzio, who blew the whistle to the SEC.

22. The Barings Bank Collapse, the Film "Rogue Trader"

Rogue Trader 1999, 101 min., based on Nick Leeson’s autobiography about the disastrous collapse of UK’s Barings Bank, Director James Dearden, with Ewan McGregor, Anna Friel.

The importance of being ethical in an Asian and European Context. The collapse of Barings Bank by the unethical conduct of its manager in Singapore Nick Leeson. The inadequate control of Barings' executives and auditors, motivated by the predominance of profits.

Required Reading: Cory Jacques, Business Ethics for a Sustainable Society: Conquering the Corporate Frankenstein, The Edwin Mellen Press, 2009, pp. 247-249.

Assignments: 1. Summary of the film. Analysis of the business and ethical dilemmas of: 2. Nick Leeson, 3. Peter Baring. 4. The managers of Leeson, 5. The Central Banks. Those who prepare the assignments have to watch the film before the meeting. Extracts of the film will be shown during the meeting.

Meeting 12

23. The Black Swan and Irrational Economics – Nassim Taleb and Daniel Kahneman

For Nassim Taleb, black swans underlie almost everything about our world, and most of all on the stock exchange. A black swan, as the Recession of 2008, is a highly improbable event, but as it carries a massive impact we have to take it into account. Kahneman, Nobel prize winner, has started a new perspective on the traditional economics, rejecting traditional economic assumptions of rationality.

Required Reading: Taleb Nassim Nicholas, The Black Swan: The Impact of the Highly Improbable, Random House, 2007, pp. 38-50

Kahneman Daniel and co-authors, Choices, Values, and Frames, Cambridge University Press, 2000, pp. 159-170

Assignments: 1. The theories of Nassim Taleb. 2. The theories of Daniel Kahneman. 3. How does the Great Recession of 2007-2010 validate or not the theories of Taleb and Kahneman?

Film: Nassim Taleb Interviewed by Charlie Rose, December 3, 2008, 57 minutes, and Nassim Nicholas Taleb: The Future Has Always Been Crazier Than We Thought, 2008, 90 min. – extracts

Professor Daniel Kahneman interviewed by Chrystia Freeland, Reuters, Fireside Chat Zeitgeist Europe, 2010, 27 min.

BBC – The Love of Money, 2009, Part III – Back from the Brink, 51 min. – extracts

24. Banking and Social Responsibility – the Film "It's a Wonderful Life"

It's a Wonderful Life, 1946, 130 min., Director Frank Capra, with James Stewart and Donna Reed

A 'futuristic' 1946 film suggesting a solution for subprime mortgage borrowers, with an ethical mortgage banker, George Bailey, who gives cheap loans to low-income families to purchase modest houses instead of renting slums. No securities backed with subprime mortgages, widely held by financial firms, no collapse of their value, no large decline in the capital of major banks and US government-sponsored enterprises, no 1.3 million US housing properties subject to foreclosure activity, no financial products called mortgage-backed securities (MBS), which derive their value from mortgage payments - just plain corporate social responsibility, with ethics and goodness prevailing over wrongdoing and greed, despite all the difficulties. James Stewart manages to do it with the assistance of a guardian angel, but how many of us have one? Are we heading to a catastrophe or will ethics prevail and save us?

Required Reading: Cory Jacques, Business Ethics for a Sustainable Society: Conquering the Corporate Frankenstein, The Edwin Mellen Press, 2009, pp. 520-522.

Assignments: 1. Summary of the film. Analysis of the business and ethical dilemmas of: 2. George Bailey, 3. Mr. Potter. 4. Mary Hatch Bailey, 5. The town citizens. Those who prepare the assignments have to watch the film before the meeting. Extracts of the film will be shown during the meeting.

Meeting 13

25. New Vehicles to Surmount Market Failures

Analysis of new vehicles designed to surmount market failures, improving drastically corporate governance: the Institute of Ethics, the Supervision Board, Ethical Funds, independent directors appointed by the stakeholders of the companies.

Required Reading: Cory Jacques, Business Ethics for a Sustainable Society: Conquering the Corporate Frankenstein, The Edwin Mellen Press, 2009, pp. 80-85, 11-16.

Wikipedia: Socially Responsible Investing

Assignments: 1. Ethical Funds. 2. Independent Directors. 3. The Supervision Board. 4. The Institute of Ethics.

26. The End of Capitalism or a New Beginning?

Capitalism: A Love Story, 2009, 127 min., directed by Michael Moore – extracts

Since the eighties we witnessed an exuberant capitalism taking over the world scene with neo liberal regimes in the US & UK, the Soviet Empire collapsed, China & the Eastern Block adopted capitalism, this was the end of history, or a new beginning? However, after witnessing the Economic Whirl culminating in the Recession of 2008, many believe that this is the end of capitalism as we know it. The film Capitalism: A Love Story, directed by Michael Moore, explores all those issues. Summary and conclusion of the course: The recommended course of action: ethics, sustainability and CRS.

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LIST OF WORKS

All My Sons, 1948, 95 min., based on Arthur Miller's play, Director Irving Reis, with Edward G. Robinson, Burt Lancaster

All My Sons TV 1986, 122 min., Director Jack O’Brien, with Aidan Quinn, James Whitmore

Architecture to Zucchini: The people, companies and organizations pioneering sustainability, 2006, 129 min., 12 segment educational video

The Ascent of Money: Boom and Bust, 2008, 120 min., Director Adrian Pennink, with Niall Ferguson

The Ascent of Money: The Financial History of the World, 2008, 240 min., Director Adrian Pennink, with Niall Ferguson

Babbitt, 1934, 74 min., Director William Keighley, with Guy Kibbee and Aline MacMahon, based on Sinclair Lewis' book – Babbitt

Bad Seed: The Truth about our Food, 2006, 112 min., Director Adam Curry

The Bank, 2001, 106 min., Director Robert Connolly, with David Wenham, Anth. LaPaglia

Barbarians at the Gate, 1993, TV, 107 m., Director Glenn Jordan, based on the book by Bryan Burrough & John Helyar, on the RJR Nabisco takeover, with James Garner, Jonathan Price

BBC – 1929, The Great Crash, 2009, 60 min.

BBC – The Love of Money, 2009, Part I – The Bank that Bust the World (Lehman), 51 min., Part II – The Age of Risk, 51 min., Part III – Back from the Brink, 51 min.

BBC – The Madoff Hustle, 2009, 51 min.

Beyond Borders, 2003, 127 min., Director Martin Campbell, with Angelina Jolie, NGOs

Beyond the Line, Turn the Risks of Climate and Environmental Change into Compelling Business Opportunities, 2009, 55 minutes, with interviews of Anthony Simon and key management of GE, Ikea, Marks & Spencer, Marriott, and experts from the Carbon Disclosure Project, Environmental Defense Fund, Forum for the Future, World Resources Institute and other organizations partnering with companies to help them reduce their environmental impacts and increase their business performance.

The Big One, 1997, 91 min., Director Michael Moore, who tries to convince Phil Knight to open a Nike factory in Flint, Michigan instead of the sweat shops in Asia

Biography, Andrew Carnegie, 2000, 50 min., documentary on Carnegie

Biography – Ben & Jerry's, 2008, 50 min., starring: Ben Cohen, Jerry Greenfield

Biography - Bill Gates: Sultan of Software, 2004, 50 min., documentary on Microsoft

Biography, Henry Ford, 1999, 50 min., documentary on the Ford Automobile Company

Biography, J. Pierpont Morgan, 2000, 50 min., documentary on Morgan

Biography, Sam Walton: Bargain Millionaire, 2004, 50 min., documentary on WalMart

Boiler Room, 2000, 118 min., Director Ben Younger, with Giovanni Ribisi, Vin Diesel

Capitalism: A Love Story, 2009, 127 min., starring and directed by Michael Moore

Charlie Rose interviews Sheila Bair (October 17, 2008), 2008, 27 min. out of a DVD of 57 min.

Charlie Rose, Warren Buffett (October 1, 2008), 2008, 57 min.

Charlie Rose, Jamie Dimon (July 7, 2008), 2008, 57 min.

Charlie Rose, A Conversation with Author Thomas L. Friedman, about his book Hot, Flat, and Crowded: Why We Need a Green Revolution – and How it Can Renew America; September 9, 2008, 57 min.

Charlie Rose with Thomas L. Friedman (August 31, 2005), 60 min., documentary. An interview of Thomas L. Friedman, columnist for the New York Times and author of The World is Flat: A Brief History of the Twenty-First Century

Charlie Rose with Hank Paulson (May 19, 2004), 2006, 57 min.

Charlie Rose with Nassim Taleb (December 3, 2008), 2008, 21 minutes out of a DVD of 57 minutes

Charlie Rose with Muhammad Yunus (June 4, 2004), 2006, 57 min.

China Blue, 2005, 86 min., Director Micha X. Peled, documentary on globalization in China

The China Syndrome 1979, 122 m, Director James Bridges, with Jane Fonda, Jack Lemon

A Civil Action, 1998, 112 min., Director Steven Zaillian, with John Travolta, Robert Duvall, based on Jonathan Harr's book

Class Action, 1991, 110 min., Direc. Michael Apted, with Gene Hackman, M.E. Mastrantonio

The Corporation, 2003, 145 min., Directors Jennifer Abbott, Mark Achbar, based on the book by Joel Bakan "The Corporation: A Pathological Pursuit of Profit and Power", with Noam Chomsky, Peter Drucker, Milton Friedman, Ray Anderson, Naomi Klein, Michael Moore, Howard Zinn

The Crooked E, the Unshredded Truth about Enron, TV 2003, 100 min., Director Penelope Spheeris, with Christian Kane and Brian Dennehy, based on the book by Brian Cruver

Damaged Care, 2002 (TV), 114 min., Director Harry Winer, with Laura Dern

Professor Daniel Kahneman interviewed by Chrystia Freeland, Reuters, Fireside Chat Zeitgeist Europe, 2010, 27 min.

Dealers, 1989, 87 min., Director Colin Bucksey, with Paul McGann, Rebecca De Mornay

Death of a Salesman, TV 1985, 130 min., based on Arthur Miller's play, Director Volker Schloendorff, with Dustin Hoffman and John Malkovich

The Devil's Advocate, 1997, 144 m, Director Taylor Hackford, based on the novel by Andrew Neiderman, with Al Pacino, Keanu Reeves, Charlize Theron, Jef. Jones, Judith Ivey

Disclosure, 1994, 128 min., Director Barry Levinson, based on the novel by Michael Crichton, with Michael Douglas, Demi Moore, Donald Sutherland, Caroline Goodall

The Divine Comedy by Dante Alighieri, (1999) Kultur Video

An Enemy of the People, 1978, 90 min., Director George Schaefer, with Steve McQueen

Ganashatru 1989, 99 min., Director Satyajit Ray, Indian film based on Henrik Ibsen’s play

Enron: The Smartest Guys in the Room, 2005, documentary film, Director Alex Gibney, 109 min., with Peter Coyote as Narrator, with Andrew Fastow, Ken Lay and Jeff Skilling, based on the book by Bethany McLean and Peter Elkind, who also appear in the film - The Smartest Guys in the Room: The Amazing Rise and Scandalous Fall of Enron

Erin Brockovich, 2000, 132 mi., Director Steven Soderbergh, with Julia Roberts, A. Finney

Executive Suite, 1954, 104 min., Director Robert Wise, based on the novel by Cameron Hawley, with William Holden, Frederic March, Barbara Stanwick, June Allyson, Walter Pidgeon, Shelley Winters, Nina Foch, Louis Calhern, Paul Douglas

The Firm, 1993, 154 min., based on the novel by John Grisham. Director Sydney Pollack, with Tom Cruise, Ed Harris, Gene Hackman, Jeanne Tripplehorn, Hol Holbrook

F.I.S.T., 1978, 145 min., Director Norman Jewison, with Sylvester Stallone, Rod Steiger

Ford: The Man and the Machine, 1987 (TV), 200 min., Director Allan Eastman, based on book by Robert Lacey, with Cliff Robertson, Hope Lange, Heather Thomas, R. H. Thomson

Free to Choose, Milton Friedman's TV series, 1990, 243 min., 5 Volumes, 3 DVDs: The Power of the Market, The Tyranny of Control, Freedom & Prosperity, The Failure of Socialism, Created Equal

Frontline: Black Money (2009), 2009, 60 min., starring and directed by Lowell Bergman

Frontline: Breaking the Bank (2009), 2009, 60 min.

Frontline: Inside the Meltdown, 2009, 60 min., Director Michael Kirk

Frontline: The Madoff Affair (2009), 2009, 60 min.

Frontline: Ten Trillion and Counting (2009), 2009, 60 min.

Frontline: The Warning (2009), 2010, 60 min., Director Michael Kirk, Reported by Jim Gilmore

The Future of Food, 2004, 88 min., Director Deborah Koons Garcia

Glengarry Glen Ross, 1992, 100 min., Director James Foley, based on David Mamet's play, with Jack Lemmon, Al Pacino, Ed Harris, Alan Arkin, Kevin Spacey, Alec Baldwin, Jonathan Price

Globalization & Human Rights, 1998, TV, 60 min., Writing credits: Rory O'Connor, Danny Schechter, hosted by Charlayne Hunter-Gault

The Gold Rush, 1925, 96 min. - silent or 69 min. remastered 1942 sound release. Director Charles Chaplin, with Charles Chaplin, Mark Swain

The Great Gatsby, 1974, 140 min., Director Jack Clayton, with Robert Redford, Mia Farrow, based on Frances Scott Fitzgerald's Book

Greed, 1924, 239 min., Director Erich von Stroheim, based on the novel by Frank Norris, with Zasu Pitts, Gibson Gowland

How to Save the World, 2007, 103 min., Directors Thomas and Barbara Burstyn

How to Succeed in Business Without Really Trying, 1967, 121 min., Director David Swift

Il Conformista 1970, 115 min., Director Bernardo Bertolucci, based on Alberto Moravia’s book The Conformist, with Jean-Louis Trintignant, Stefania Sandrelli, Yvonne Sanson

An Inconvenient Truth, 2006, 96 min., Director Davis Guggenheim, Narrated by Al Gore

The Insider, 1999, 157 min., Director Michael Mann, with Al Pacino and Russel Crowe

The Inspector General 1949, 102 min., Director Henry Koster, with Danny Kaye, based on Revisor by Nikolai Gogol

It's a Wonderful Life, 1946, 130 min., Director Frank Capra, with James Stewart, Donna Reed

Jean de Florette, 1986, 122 min., Director Claude Berri, with Yves Montand, Gerard Depardieu, based on Marcel Pagnol's book

Julius Caesar 1953, 120 min., Director Joseph Mankiewicz, with Marlon Brando, James Mason, based on William Shakespeare's play

La Curee 1966, 98 min., Director Roger Vadim, with Jane Fonda and Michel Piccoli

L’Argent TV, 1988, 250 min, based on Emile Zola’s book L' Argent, about the financier Aristide Saccard, Director Jacques Rouffio, with Claude Brasseur, Miou-Miou, M. Galabru

L' Argent, 1928, 195 min., Director Marcel L' Herbier, with Pierre Alcover, Alfred Abel

Les Grandes Familles 1958, 92 min., based on Maurice Druon’s book, Director Denys de la Patteliere, with Jean Gabin, Bernard Blier, Pierre Brasseur, Jean Dessailly, Jean Murat

Life and Debt, 2001, 80 min., Director Stephanie Black, globalization, IMF, Jamaica

Life of Emile Zola 1937, 116 min., Director William Dieterle, with Paul Muni, Henry O’Neill

Lois Gibbs and the Love Canal, TV 1982, 100 min., Director Glenn Jordan, with Marsha Mason, based on the Love Canal scandal

Man of La Mancha 1972, 132 min., Director Arthur Hiller, with Peter O’Toole, Sophia Loren, based on Don Quijote by Miguel de Cervantes

Manon des Sources 1986, 113 min, Director Claude Berri, with Emmanuele Beart, Daniel Auteuil, based on Marcel Pagnol's book

Manufacturing Consent: Noam Chomsky and the Media, 1992, 167 min., Directors Mark Achbar and Peter Wintonick, about corporate media's role in modern propaganda

Marie: A True Story, 1985, 112 min., Director Roger Donaldson, with Sissy Spacek

McLibel, 2005, 85 min., Director Franny Armstrong, on McDonald's libel suit in the UK

The Merchant of Venice, 2004, 138 min., Director Michael Radford, with Al Pacino, Jeremy Irons, based on William Shakespeare's play

The Merchant of Venice, TV 1973, 131 min., Director John Sichel, with Laurence Olivier

The Merchant of Venice TV 1980, 157 min., Director Jack Gold, with Warren Mitchell

Milton Friedman, 2002, 73 m., Interviewed by Gary S. Becker, Intellectual Portrait Series

Modern Times, 1936, 87 min., Director Charles Chaplin, with Charles Chaplin, Paulette Goddard

Nassim Nicholas Taleb: The Future Has Always Been Crazier Than We Thought, 2008, 90 min.

Nine to Five, 1980, 110 min., Director Colin Higgins, with Jane Fonda, Dolly Parton

No Logo, 2003 V, 42 mi., Director Sut Jhally, documentary based on the book "No Logo" by Naomi Klein on globalization, hegemony of brands and democratic resistance

Nova - Trillion Dollar Bet, 2000, 50 m., documentary on Long Term Capital Management

The Odyssey TV 1997, 173 min., Director Andrei Konchalovsky, with Gretta Scacchi, Irene Papas, based on Homer's book

Other People's Money, 1991, 103 min., Director Norman Jewison, based on Jerry Sterner's play, with Danny DeVito, Gregory Peck, Penelope Ann Miller, Piper Laurie

Outsourced, 2006, 103 min., Director John Jeffcoat, with Josh Hamilton, Ayesha Dharkar, Asif Basra, Matt Smith

Patterns, 1956, 83 min., Director Fielder Cook, with Van Heflin, Ed Beg

Paul Hawken: The New Great Transformation, 2007, 71 min., Director Chris Baldwin, Speaker: Paul Hawken

Pirates of Silicon Valley, 1999, TV, 95 min., Director Martin Burke, with Anthony Michael Hall as Bill Gates of Microsoft, Noah Wyle as Steve Jobs of Apple, Joey Slotnick as Steve Wozniak of Apple, John DiMaggio as Steve Ballmer of Microsoft

Precarity, 2004, 197 min., Concept & Realization: Francesca Bria, Tora Krogh, Lize de Clercq. A compilation of 17 videos on victims of globalization, from Italy, Spain, Korea, Mexico, Japan, Netherlands, France, US, Michael Moore, Naomi Klein, The Take

Rhinoceros, 1974, 104 min., Director Tom O’Horgan, with Zero Mostel and Gene Wilder, based on Eugene Ionesco's play

Rigoletto 1982, 130 min., Verdi’s opera with Piave’s libretto based on Victor Hugo’s play Le roi s’amuse, Director John Michael Phillips, with John Rawnsley as Rigoletto and Marie McLaughlin as Gilda. The English National Opera in an adaptation to contemporary Mafia.

Rigoletto 1982, 128 min., Director Jean-Pierre Ponnelle, with Luciano Pavarotti

Ripped Off: Madoff and the Scamming of America, and Crash: The Next Great Depression, 2009, 94 min., History, Starring Bernie Madoff

The Rise of Disaster Capitalism, 2009, with Naomi Klein, 77 minutes

The Shock Doctrine: The Rise of Disaster Capitalism, Naomi Klein, Bioneers, 2008, 33 minutes

The Shock Doctrine, 2009, Documentary by Michael Winterbottom and Mat Whitecross, with Naomi Klein, 89 minutes

RJR/Nabisco, Braces for Buyouts, The History Channel, documentary, 2002, 50 min.

Roger & Me, 1989, 91 min., Director Michael Moore, on GM plant shutdowm and downsizing

Rogue Trader 1999, 101 min., based on Nick Leeson’s autobiography about the disastrous collapse of UK’s Barings Bank, Director James Dearden, with Ewan McGregor, Anna Friel

Runaway Jury, 2003, 127 m., Director Gary Fleder, based on the novel by John Grisham, with John Cusack, Gene Hackman, Dustin Hoffman, Rachel Weisz, Bruce McGill

Seven Samurai 1954, 190 min., Director Akira Kurosawa, with Toshira Mifune

Shaping the Future: 2008 Global Conference: A Discussion with Nobel Laureates in Economics, 2008, 75 min., Milken Institute

Sicko, 2007, 123 min., Director Michael Moore, a documentary on the American healthcare system

Silkwood, 1983, 131 min., Director Mike Nichols, with Meryl Streep, Cher, Kurt Russell

, 2001, 107 min., Director Chris Hegedus, Jehane Noujaim, documentary with Kaleil Tuzman and Tom Herman, on the rise and fall of the Internet company

Super Size Me, 2004, 100 min., Director and Actor - Morgan Spurlock. McDonalds, fast food unhealthy effects, the first ever reality-based movie, beginning and ending in 30 days

Syriana, 2005, 126 min., Director Stephen Gaghan, with George Clooney, C. Plummer, Matt Damon

The Take, 2004, 87 min., documentary directed by Avi Lewis, written by Naomi Klein, Argentina

The Threepenny Opera: Die Dreigroschenoper, 1931, music Kurt Weill, 112 min., Director Georg Pabst, with Lotte Lenya, based on Bertolt Brecht's play

The Beggar’s Opera 1953, 94 min., Director Peter Brook, with Laurence Olivier, Hugh Griffith

Topaze 1951, 136 min, Director Marcel Pagnol, with Fernandel, based on Marcel Pagnol's play

Topaze, 1933, 78 min., Director Harry d'Abbadie d'Arrast, with John Barrymore, Mirnay Loy

Topaze, 1935, 103 min., Director Louis J. Gasnier, with Louis Jouvet, Edwige Feuillere.

Triumph of the Nerds: The Rise of Accidental Empires, 1996, 165 min., TV, Director Robert Cringely, documentary on the origins of the personal computer with Paul Allen (co-founder Microsoft), Steve Ballmer, Bill Gates, Steve Jobs, Steve Wozniak, Gordon Moore

The Visit 1964, 100 min., Director Bernhard Wicki, with Ingrid Bergman

Hyenas, 1992, 113 m., Director Djibril Diop Mambety, African film based on the play The Visit of the Old Lady by Friedrich Durrenmatt

Wall Street, 1987, 120 min., Director Oliver Stone, with Michael Douglas, Martin Sheen

Wall Street 2: Money Never Sleeps, 2010, 127 min., Director Oliver Stone, with Michael Douglas

Wal-Mart: The High Cost of Low Price, 2005, 95 min., Director Robert Greenwald

Warren Buffett - Oracle of Omaha, 2000, 60 min., about the story of Berkshire Hathaway

Where is the World Going to, Mr. Stiglitz?, 2007, 380 min., starring Joseph Stiglitz

Who Killed the Electric Car?, 93 min., Director Chris Paine, Narrated by Martin Sheen

Working Girl, 1988, 115 min., Director Mike Nichols, with Harrison Ford, Sigourney Weaver, Melanie Griffith, Alec Baldwin

The Yes Men, 2003, 2003, 83 min., Directors Dan Ollman and Sarah Price, WTO satire

Yes, Prime Minister, UK 1992, 461 min., Director Sidney Lotterby, with Paul Edington, Nigel Hawthorne, TV series and books by Jonathan Lynn and Anthony Jay (Yes, Minister)

JACQUES CORY, Ph.D. – CURRICULUM VITAE

PERSONAL INFORMATION

Home Address: 2, Costa Rica Street, Haifa, Israel 34981

Telephone: 972-4-8256608 or 972-4-8246316. Mobile: 972-544-589518, Fax: 972-4-8343848

E-mail: coryj@.il or cory@.il

Website: or

EDUCATION

Ph.D. Business Administration (with distinction), CNAM - Conservatoire National des Arts et Metiers, Paris, France, 2004. Doctoral Dissertation in French - ‘Business Ethics and the Minority Shareholders’ - the first dissertation on this subject in the world.

MBA Business Administration, INSEAD, Fontainebleau France, 1968. An International MBA in a trilingual program: English, French and German.

BA Economics and Political Sciences, Hebrew University of Jerusalem, Israel, 1966.

ACADEMIC EXPERIENCE

2009- Lecturer at the MBA program, The Technion Israel Institute of Technology, Tel Aviv, Israel: Business Ethics.

2006 Visiting Professor, INSEAD, Singapore: Semestrial Course of Business Ethics - 'Individual, Business & Society: The Ethical Dilemma'.

2004- Lecturer at the MBA, International MBA, MA and BA programs, The University of Haifa, Israel: Business Administration, Business Ethics, CSR, Sustainability, Globalization, M&A, Business and Government, Leadership and Stakeholders, NGOs and the Public Sector. Elected in 2005 as the Best Lecturer of the University of Haifa.

PROFESSIONAL ACTIVITIES

2001- Lectures at conferences, universities, organizations, companies and governmental forums, in the U.S., Europe and Israel.

Insead, Fontainebleau, France - Lectures and Workshops at Ethics Days.

European Union - Stresa, Italy, Lecture on Trends in M&A.

Ethics & Management Symposium in Paris.

Israel: Hi-Tech Summit, Directors' Convention, Top Management of Israeli Bank Leumi, Transparency International, Israeli SEC, Ethics Center at the Israeli Stock Exchange, Internal Auditors Convention, Magnes Launching of Book – ZOA hall, Tel Aviv, Mishkenot Shaananim Ethics Center, Bimat Kedem Launching of Book – Suzan Dalal hall, Tel Aviv, Ethics & Engineering, BDO, Elbit, Israel Aircraft Industries.

2009- Column "Ethics and You" – The Israeli CPA Review

2006- Member of the Editorial Advisory Board, Society and Business Review, Emerald.

2001- Israel: Essays and Articles on Business Ethics

BUSINESS ACTIVITIES

2006 Chairman of the Advisory Board, Taditel, Israel.

2005 Business Manager CycleTec, affiliate of American Israeli Paper Mill, Israel.

2002 General Manager Corporate Recovery Management, W&S Israel.

1981 - 2000 Top-level management of large and small hi-tech companies, M&A and strategic partnerships, international business, know-how transfer with conglomerates, shares and debentures offerings in the US & Israel, subsidiaries management, international turnarounds, initiating new ventures. Extensive business activities in France, US and Europe.

Turnaround Plans and successful implementation of Elbit (1981-1982), Elscint's subsidiaries (1987-1988), NBase (1995-1996), and other companies, in hi-tech and low-tech, in France, the US and Israel, increasing in several cases valuation by more than 1,000%.

M&A and JV Negotiations of Israeli, U.S., Canadian, French, German, and Spanish companies in the computer, Internet, data communication, telecom, imaging, semi-conductor, and aerospace industries. Due diligence, negotiations, 100 business plans, strategic planning.

Technology Transfer: conducting of negotiations and agreements, including development, manufacturing and marketing rights, between large European, American and Israeli companies, such as Nixdorf, Alcatel, Hon and Global. Management of a Satellite Communications Consortium (1991-1993) comprised of the largest Israeli companies.

Management: (1981-1987) Vice President in charge of business activities, sales and finance of Elbit, one of the largest Israeli hi-tech companies. Was directly responsible for the transition from heavy losses to peak profits, M&A, and international business breakthrough. Managed U.S. and Israeli public offerings. Member of U.S. and Israeli Boards of Directors.

1973-1980: Sales Manager and Head of the Defense Sales Department at Elbit, Israel.

1970-1973: Export Manager and Assistant to the Executive CEO at Electra, Israel.

1968-1970: Assistant to the Strategic Planning VP of Israel Aircraft Industries, Israel.

BOOKS

"Business Ethics for a Sustainable Society: Conquering the Corporate Frankenstein", The Edwin Mellen Press, 2009. An academic book in English, focusing on the Economic Whirl, starting in the eighties with damages of billions and culminating in the Great Economic Crisis of 2008 with damages of trillions, its origins, analysis and solutions. The book comprises of theoretical issues, cases based on business experience, and works on business ethics, sustainability, globalization, corporate governance, and social responsibility.

"Selected Issues in Business Ethics and Social Responsibility", published by Magnes Publishers, the Hebrew University of Jerusalem in 2008: Analysis of theoretical issues and ethical dilemmas in original cases, films, plays & novels, forecasting the world economic crisis & presenting practical vehicles to overcome the crisis. Received an outstanding acclaim.

Two books - "Business Ethics: The Ethical Revolution of Minority Shareholders" and "Activist Business Ethics", published by Kluwer Academic Publishers Boston in 2001 (now Springer). Paperback Editions by Springer – 2004. Pioneer research, based on case studies of U.S., French & Israeli companies and extensive business experience, with a modern approach on activism in business ethics. The books found the rules that govern unethical conduct towards minority shareholders, which were validated in the Enron scandal.

Novel "Beware of Greeks' Presents", Bimat Kedem, Israel, 2001. Adapted to the theater - "Nelly's Choice", with Amalia Eyal, in 2005. Translated into French in 2008.

LANGUAGES

Fluent in English, French (mother tongue), Spanish, Ladino, Hebrew. Fair knowledge of Italian, German, Portuguese, Romanian, Interlingua. Reading capabilities in 40 languages.

PUBLIC ACTIVITIES

1981- Member of the Society for Business Ethics in the US, the French and United Kingdom Chambers of Commerce in Israel. Member of the Boards of Directors/Management of Transparency International Isrational Israel, Ometz ethical NGO, Haifa Theater, Haifa Film Festival.

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